BSA/AML/CFT Hot Topics
In our recent “BSA/AML/CFT New Year Update” webinar, Kevin Edwards shared several topics that will likely be “hot” as we progress through 2025. A few of those include transitioning your existing BSA/AML programs with the now new and improved AML/CFT terminology. Suspicious activity, especially related to sanctions evasion is another area that doesn’t seem to be going away. The beneficial owner requirements, specifically the new database, saw some volatility in the courts toward the end of 2024. While this doesn’t have much impact on financial institutions at this point, we do expect there will be tweaks to the financial institution requirements coming down the road.
Kevin explains more in the video.
2025/01/22
Kevin Edwards
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).